SOURCE: IO Circuit

October 06, 2006 06:45 ET

GrowthStockResearch.com Highlights Price Target of $3.25 for RENG

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit.

LAKE HARMONY, PA -- (MARKET WIRE) -- October 6, 2006 -- Radial Energy Inc. (OTCBB: RENG) announces today that it has signed a $5,000,000 convertible debenture financing with Cornell Capital Partners, LP and has received the first tranche of $2,000,000.

The debentures have a term of three years and bear interest at 7% per year. At the option of the holder, the debentures may be converted into Radial Energy common stock at a conversion price equal to the lower of $1.0536 or 90% of the lowest volume weighted average daily closing price of the Company's common stock, during the fifteen trading days immediately prior to the conversion date.

To read the complete release, go to http://biz.yahoo.com/iw/061005/0169862.html

For more information on RENG, go to www.growthstockresearch.com

Other active stocks are Energy Conversion Devices, Inc. (NASDAQ: ENER), Energy West, Inc. (NASDAQ: EWST) and Art Technology Group, Inc. (NASDAQ: ARTG).

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